Governor Doyle Announces Actuant Consolidation, Expected to Create Up to 140 Jobs

For Immediate Release: August 20, 2009
Contact: Tony Hozeny, Department of Commerce, 608-267-9661
Carla Vigue, Office of the Governor, 608-261-2162
Karen Bauer, Actuant Corporation, 262-373-7462

MADISON - Governor Jim Doyle today announced that Actuant Corporation will consolidate several of its operations at a new site in Menomonee Falls, Waukesha County. The project will create up to 140 jobs, retain 650 jobs, and include $15 million in investment by the company.

"I am pleased the state is partnering with Actuant Corporation to create and retain jobs, and invest in the future of the Menomonee Falls community," Governor Doyle said. "Actuant is a leader in niche industrial markets, and we look forward to working with this major employer as they grow here in Wisconsin."

The Governor also announced that Actuant has received a $1.5 million forgivable loan and $1.75 million in tax credits from the Department of Commerce (Commerce) for assistance with project-related costs.

"This is a logical expansion for Actuant as we seek to gain efficiencies by consolidating our North American electrical businesses and several business unit and administrative operations", said Robert Arzbaecher, Actuant Chairman and CEO. "We are proud to make this commitment to continue to grow our business in Southeast Wisconsin. We are pleased with the support we received from both the State of Wisconsin and the Village of Menomonee Falls to expand here and retain and create more jobs in the community."

Actuant currently operates seven separate buildings in both Glendale and Butler. The new facility will help the company gain operating efficiencies and will incorporate energy efficient technology to reduce operating costs.

About Actuant
Actuant, headquartered in Butler, Wisconsin, is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are market leaders in branded hydraulic and electrical tools and supplies, umbilical, rope and cable solutions as well as highly engineered position and motion control systems. Since its creation through a spin-off in 2000, Actuant has grown its sales from $482 million to $1.66 billion in fiscal 2008. The company employs a workforce of approximately 6,000 worldwide. Actuant trades on the NYSE under the symbol ATU.

For more information on Commerce programs and services, contact the Commerce area development manager at http://commerce.wi.gov/BD/BD-AreaDevManagers.html.

-30-